Lottery supplier China LotSynergy Holdings Ltd announced on Tuesday it won a bid to supply sports lottery terminals to the Zhejiang Sports Lottery Administration Centre.
The Hong Kong-listed firm stated this was subsidiary Guangzhou Lottnal Terminal Co Ltd’s second win in the terminal procurement of Zhejiang province, with its first win in December 2013.
“Lottnal grew with the development of the sports lottery terminal market in 2013, which entered a phase of expansion in 2014, and was accompanied by a significant increase in orders and a rapid rise in market share,” China LotSynergy said in a filing to the Hong Kong Stock Exchange.
“With the launch of fixed-odds single match products and an increase in payout ratio of single match games by China Sports Lottery Centre in the second half of 2014, management believes that China’s sports lottery sales will enter a phase of significant growth”, pushing up demand for terminals, the company stated.
The firm announced on Monday that it had won a joint bid to provide new lottery sales and management system to the Shanghai Welfare Lottery.
Sports lottery sales in mainland China rose by 24.1 percent in the first half of 2014 in comparison with a year before, reaching RMB79.91 billion (US$13.01 billion).
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“Amendment to the gaming law is still a work in progress ... We need to wait for further details, in terms of the finer form that the amendments will take, and there will be additional regulatory measures that will be potentially issued thereafter”
Chief operating officer of Sands China